The SKU or stock keeping unit is one of the simplest methods to improve your sales performance on Amazon. SKU gives you a complete overview of your stock. It is referred to a sequence of characters and acts as a vital link to inventory control and your earnings. Optimum utilization of SKU leads to astute Amazon product page SEO and boost your sales figure too.
Selling products on Amazon is a dream comes true for every seller, but keeping a track of stock is also necessary to make sure that inventory at warehouses reflect correct figures. Product SKUs process is always beneficial to online Amazon sellers.
Benefits of Product SKU on Amazon
1)Profit: Your SKU tells everything. By studying your SKU data carefully, you can easily trace out which products require more attention and which do not. Obviously, the product that is appearing on the top of your Amazon SEO listing and having good selling figures is your best performing item. Now you need to devote more time towards other products.
2) Stock Analysis: Successful implementation of the product SKU strategy will be a bonus to your firm. The SKU software tool runs independently and alerts you every time whenever you need to replenish the stock of a particular product. So, it helps you to deliver the customer’s desired products on time while keeping them delighted about your timely delivery mechanism.
3) Inventory Track & Check: When you keep the SKU process clear and transparent, it will help you to promptly locate your inventory items. As an entrepreneur, it is necessary to know every detail concerning your stock or inventory. It also helps to reconcile the balance of your stock by showing the actual inventory on screen. It is extremely useful to prevent refunds. An Amazon seller-refunding customer’s order due to unavailability of stocks earns a bad reputation, which must be avoided at all costs. It may also affect his Amazon product optimization strategy in the long run.
4) Shrinkage and Loss: Some products at a warehouse may lay unproductive and unusable. These products are liability as they can’t be sold. Using product SKU methodology, an Amazon seller can easily de-list damaged or items that are susceptible to shrinkage as in case of oil or any other liquid products. It also helps to identify stolen and lost products.
5) Pricing Details: If you have to reduce your prices for a few specific items by discount offers, and you wish to know what discount rate you have offered previously, you can easily get such information from the product SKUs. It keeps the entire record of your products sold and those lying at stock.
Considering the level of humongous competition in the world of online sales, generating product SKU for your inventory is the need of the hour. However, not everyone is adept at this process. An Amazon seller should contact eStore Factory, the specialized Amazon optimization consultant for further information on SKU and to even automatically generate one for his firm.